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Posted: April 11, 2016

The Risk of Employment Practices ViolationsThe Equal Employment Opportunity Commission (EEOC) receives tens of thousands of claims by employees and former employees each year. In fact, in 2015 there were 89,385 discrimination cases filed with the EEOC. Topping the list were retaliation claims at 39,757, followed by discrimination allegations involving race (31,027), disability (26,968), sex (26,396), age (20,144), national origin (9,438), religion (3,502), color (2,833), the Equal Pay Act (973), and the Genetic Information Non-Discrimination …



Tags: Employment Liability Employment Practices Employment Practices Insurance EPLI

Posted: March 29, 2016

Data Breach-Related D&O Litigation Continues to EmergeThe impact from data breaches has entered the corporate boardroom, as we first discussed in the wake of high-profile cases Target and Wyndham Worldwide in which plaintiffs initiated data breach-related derivative lawsuits against their respective boards. When the Wyndham case was dismissed, however, many felt that perhaps directors and officers were spared, but a year later Home Depot was hit with a data breach-related shareholder’s derivative lawsuit, once again shining



Tags: Cyber Liability Cyber Risks Directors & Officers Liability Directors and officers

Posted: March 25, 2016

Crime Insurance Front & Center As Phishing Emerges As Prevalent ThreatA 2016 insurance outlook report discovering various insurance lines and trends came out earlier this year. Crime insurance was among the lines of insurance discussed. According to the report, while vendor fraud associated with employee dishonesty continues to be the largest source of claims, imposter fraud is among the growing trends crime insurance underwriters are evaluating.

Impostor fraud, which includes phishing, involves schemes designed to trick organizations into redirecting …



Tags: Crime Insurance Phishing Threats Preventing Phishing
Posted in: blog, Crime Insurance

Posted: March 23, 2016

Selecting the Right Real Estate E&O Insurance PolicyReal Estate Errors & Omissions (E&O) or Professional Liability insurance is a critical component of any sound insurance program for those involved in real estate sales, property management and related fields. That’s because the single greatest liability exposure most real estate agents and brokers face are malpractice lawsuits filed by dissatisfied buyers or sellers. Allegations can include misrepresentations, negligence, failure to disclose and other violations of the agent’s or broker’s



Tags: Errors & Omissions Insurance Real estate
Posted in: blog, E&O, E&O Insurance

Posted: March 16, 2016

Check Inside Your Cyber Liability Insurance PolicyCyber attacks are a relatively new, yet insidious and frequent phenomenon. The insurance industry is responding to the risks they pose by designing insurance policies to address various exposures. The Cyber insurance industry, although in its nascent state, has more than doubled in value from $1 billion in 2012 to $2 billion in 2015, and could triple by 2020 as result of a growing landscape of cyber threats, according to …



Tags: Cyber Crime cyber liability insurance Cyber Policies Private Network

Posted: March 14, 2016

Employment Practices in Tech Industry: The Diversity IssueOver the last few years there has been heightened scrutiny regarding the makeup of the workforce at technology companies, which is predominantly white, Asian, and male. Diversity in the workforce was underscored in a survey conducted by Fortune last year, which revealed that on average women comprise about one-third of the jobs in the tech industry. That gap expands the higher up you go in an organization, with the best …



Tags: Diversity ELPI Employment Practices Employment Practices Liability insurance

Posted: March 10, 2016

Cyber Security and the Role of CPAs with ClientsA new report by joint IMA (Institute of Management Accountants) and Association of Chartered Certified Accountants (ACCA),“Cybersecurity – Fighting Crime’s Enfant Terrible,” underscores the extent to which cyber security has become an issue for all industries and how the accounting industry can be instrumental in stemming cyber losses for their clientele.

According to the report, “no one can afford to be a cyber-fool.” Accountants and finance professionals can – and …



Tags: CPA Cyber Insurance cyber protection cyber security

Posted: March 2, 2016

Back in November, Errors-Omissions.com’s own Mike Smith participated in a discussion hosted by the Professional Liability Underwriting Society.

Find out about the state of the 2015’s E&O trends to help you get ready for 2016’s opportunities and challenges by watching the video below:

The State of Real Estate Errors & Omissions from PLUS on Vimeo.




Posted: February 29, 2016

Common Pitfalls Leading to Insurance Agent E&O ClaimsThe world of insurance is changing with new players entering the marketplace, including Google, Overstock.com, Wal-Mart and others. This has made it even more imperative for independent agents and brokers to differentiate themselves from these disrupters and other direct marketers, not only in personal lines, but also in the commercial lines space. Increasingly more agencies are presenting themselves as consultants, risk management advisors and experts to gain more business and …



Tags: Errors and Omissions Insurance Insurance Agent E&O Preventing E&O Claims
Posted in: blog, E&O

Posted: February 24, 2016

Cyber Risks Tax Season Means Extra Vigilance in Keeping Client Data SafeIt’s that time of year when accountants and tax preparers are busy preparing client tax returns for 2015. It’s also when a plethora of information is being shared between clients and accountants via email, Google Docs, Dropbox and other information-sharing platforms. This information includes Social Security numbers, financial statements and IRS forms, putting both accountants and their clients at risk for cyber crimes.

Emailing information may seem like the …



Tags: Cyber attack Cyber Crimes cyber liability insurance Protecting Client Data

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